Gold And Silver Down On Strong Job Numbers

GOLD

The U.S. Labor Department reported today that available jobs fell to the lowest level in more than two years in June. At tight labor market is something the Federal Reserve looks at carefully. On this news the U.S. Dollar Index rallied to a 3-week high (over 102), and Gold and Silver dropped. At 11am PT today, Gold is down $28 per ounce, trading at $1,943 on strong volume.

SILVER

Silver dropped with Gold on the jobs report, reaching $24.07 before finding excellent support. The lower premiums on many of the popular Silver investment bullion coins has increased demand. At 11am PT today, Silver is trading at $24.22 per ounce, down $0.60 on heavy volume.